Euro / U.S. DollarShort
When Head & Shoulder meets Elliot
EUR probably is the most interesting pair to look at in this upcoming near term.
The EUR has been steadily going up trend to the sky.
Seems like this pair is following the Elliot Wave @ Wave#1 Wave #2 and Wave #3
General speaking the EURUSD has been on a sideway trend since early August and a sideway trend will eventually ends and a trending move will begin.
Foreseen the pair will soon begin the corrective Wave #4 + a break of the sideway trend + a non-so-textbook shoulder-head-shoulder pattern.
On top of it, the Daily EMA 20 started to trending down.
However, personally thinking to chase over the market isn't a good move. A better entry will be waiting a candle retesting on the EMA to complete first before jumping in the short the Euro.
Multiple TP are recommended; with the last TP point will be at around 1.1500
- Remember the EW Cardinal rule #3?
Wave #4 NEVER RETRACE to territory of Wave 1 (below 1.1500)
The EUR has been steadily going up trend to the sky.
Seems like this pair is following the Elliot Wave @ Wave#1 Wave #2 and Wave #3
General speaking the EURUSD has been on a sideway trend since early August and a sideway trend will eventually ends and a trending move will begin.
Foreseen the pair will soon begin the corrective Wave #4 + a break of the sideway trend + a non-so-textbook shoulder-head-shoulder pattern.
On top of it, the Daily EMA 20 started to trending down.
However, personally thinking to chase over the market isn't a good move. A better entry will be waiting a candle retesting on the EMA to complete first before jumping in the short the Euro.
Multiple TP are recommended; with the last TP point will be at around 1.1500
- Remember the EW Cardinal rule #3?
Wave #4 NEVER RETRACE to territory of Wave 1 (below 1.1500)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.